A Quote by Warren Buffett

The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.

Warren Buffett

Quote Topics

Almost Almost All Asset Assets Being Both Category Currently Decorative Demand End Eternity Favorite Fear Fearful Gold However Huge Incapable Industrial Investors Limited Major Meanwhile Money Much Neither New Nor Noted Other Ounce Own Paper Paper Money Production Purposes Right Shortcomings Significant Soaking Some Still True Two Up Use Utility Value Whose Will

Quote Author

Warren Buffett
American - Businessman
Born: August 30, 1930

Gold has two significant shortcomings, being neither of much use nor procreative.

Warren Buffett

My treasure chest is filled with gold. Gold . . . gold . . . gold . . . Vagabond's gold and drifter's gold . . . Worthless, priceless, dreamer's gold . . . Gold of the sunset . . . gold of the dawn . . .Gold of the showertrees on my lawn . . . Poet's gold and artist's gold . . . Gold that can not be bought or sold - Gold.

Don Blanding

Gold is unique because it has the age-old aspect of being viewed as a store of value. Nevertheless, it’s still a commodity and has no tangible value, and so I would say that gold is a speculation. But because of my fear about the potential debasing of paper money and about paper money not being a store of value, I want some exposure to gold.

Seth Klarman

Gold is not less but more rational than paper money. Money holds value so long as it is in limited supply; gold will always be in limited supply, and would require real resources to produce even from the sea; paper and printing ink are not in limited supply. The gold system is much closer to a modern automatic scientific control system than the crude and relatively unstable system of paper.

William E. Rees

Gold is not necessary. I have no interest in gold. We'll build a solid state, without an ounce of gold behind it. Anyone who sells above the set prices, let him be marched off to a concentration. That's the bastion of money.

Adolf Hitler

An ounce of gold is an ounce of gold, whether it consists of guineas, sovereigns or eagles.

Hans F. Sennholz

Our new watches are made entirely of double super gold. They are just a piece of gold that you can wear to the left, right, or directly on top of the other gold you own.

Tim Cook

Gold, unlike all other commodities, is a currency...and the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.

Alan Greenspan

Miners produce the bullion. If there is going to be more demand for gold from investors and central banks, where is the gold going to come from? They have to dig it out of the ground and sell it. As the price of gold goes higher, their profit margins increase. So if you are very bullish like I am and think there is going to be a big increase in gold, it's a huge opportunity for miners.

Peter Schiff

Nobody at CNBC owns gold. Nobody at Bloomberg owns gold. Gold is being constantly talked down by the media, and Fed officials, and economists, who also don't own any gold. They're all stocked up in equities.

Marc Faber

The obsession with gold, actually and politically, occurs among those who regard economics as a branch of morality. Gold is solid, gold is durable, gold is rare, gold is even (in certain very peculiar circumstances) convertible. To believe in thrift, solidity and soundness is to believe in some way in the properties of gold.

Christopher Hitchens

Under the gold standard gold is money and money is gold. It is immaterial whether or not the laws assign legal tender quality only to gold coins minted by the government.

Ludwig von Mises

Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what's backing up the dollar? I don't think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper.

Peter Schiff

Did you know that wherever you find fool's gold, real gold exists somewhere nearby? This also goes for relationships and friendships. Real gold is found in the heart. For every piece of fake gold that you discard, remember that true gold isn't too far.

Suzy Kassem

But, in truth, it had not exactly been gold, or even the promise of gold, but more like the fantasy of gold, the fairy dream that the gold is there, at the end of the rainbow, and will continue to be there forever - provided, naturally, that you don't go and look. This is known as finance.